It’s that time of year again!
The popular media company, Forbes has just released its 2019 list of the richest people on the planet across all spheres such as tech, music, politics, business etc.
…and guess what?!
The likes of Jay-Z, Rihanna, and Serena Williams have made history by either joining the billionaires’ club on the list or are the wealthiest in their chosen profession.
For quite some time now, Jay-Z has been telling us that he’s stinkingly rich but just like you, I haven’t been paying a lot of attention, however, with Forbes’ recent announcement that Jay-Z is now the first hip-hop billionaire artist, Jay-Z may have 99 problems, but being a billionaire ain’t one.
The 49-year-old artist is not only the first rapper to achieve billionaire status, but he’s also only one of a “handful of entertainers” to reach the goal after building an empire with his music and investments in real estate, companies such as Uber, art and liquor.
Jay-Z’s assets include a $75 million music catalogue, his music-streaming service “Tidal” that’s worth an estimated $100 million, his entertainment company “Roc Nation” worth $75 million, a $70 million art collection and real estate worth about $50 million.
The rapper also owns 100 percent of Armand de Brignac Champagne (Ace of Spades), estimated to be worth $310 million and has a stake in cognac D’Ussé, a joint venture with Bacardi, which amounts to about $100 million. Jay-Z has also benefited in investing in companies like Uber, now worth an estimated $70 million and according to Forbes, he has a total of $220 million in cash and investments.
Rihanna on the other hand certainly knows what it means to “work, work, work, work, work, work.” With a $600 million fortune, the Barbados-born singer is not only among the richest self-made women in America, but she is also the richest female musician in the world, according to Forbes.
Rihanna’s cosmetics line, Fenty Beauty, has significantly helped her build her fortune. She started the brand in September 2017 at Sephora and last year, the company made an estimated $570 million. According to Forbes, Fenty’s success has been, in part, to social media and its expansive foundation options. While most cosmetic brands have a few shades of foundation, Fenty offers 40 shades.
The company — which Forbes estimates to be worth $3 billion — is also partially owned by LVMH, the French luxury goods conglomerate. The partnership between Rihanna and LVMH has also led to a fashion line based in Paris called Fenty. The singer also has the Savage x Fenty lingerie line, along with TechStyle Fashion Group based in Los Angeles.
Overall, Rihanna is numbered at 37 on the list of America’s self-made women – a list that includes Oprah Winfrey, Serena Williams and Kylie Jenner as the youngest self-made billionaire.
Serena Williams also made history as she became the first athlete to be named one of the richest self-made women in America. The tennis star was ranked number 80 with a net worth of $225 million. Williams celebrated the milestone on Instagram, saying she was honoured to be among the women on Forbes’ list.